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Earnings Per Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Our basic earnings per share calculations are based on the weighted average number of common shares outstanding during the period. Potentially dilutive securities include outstanding stock options, restricted share units, deferred stock units and performance-based restricted share units that were issued to Crane NXT and SpinCo employees and directors. The effect of potentially dilutive securities is reflected in diluted earnings per common share by application of the treasury method. Diluted earnings per share gives effect to all potentially dilutive common shares outstanding during the period. On April 3, 2023, 56.7 million shares of our common stock, par value $1.00 per share, were distributed to Holdings stockholders of record as of March 23, 2023. This share amount is utilized for the calculation of basic and diluted earnings per share for all periods presented prior to the Separation and such shares are treated as issued and outstanding for purposes of calculating historical earnings per share. For periods prior to the Separation, it is assumed that there are no dilutive equity instruments as there were no Crane NXT stock-based awards outstanding prior to the Separation. The weighted average number of common shares outstanding during the three-and-nine-months ended September 30, 2023 was based on the weighted average number of common shares after the Separation.
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
(in millions, except per share data) | 2023 |  | 2022 |  | 2023 |  | 2022
Net income attributable to common shareholders | $ | 51.9 |  |  | $ | 44.6 |  |  | $ | 138.8 |  |  | $ | 142.9 |
Average basic shares outstanding | 56.8 |  |  | 56.7 |  |  | 56.8 |  | 56.7 |
Effect of dilutive share-based awards | 0.7 |  |  | — |  |  | 0.6 |  |  | — |
Average diluted shares outstanding | 57.5 |  |  | 56.7 |  |  | 57.4 |  |  | 56.7 |
Earnings per basic share | $ | 0.91 |  |  | $ | 0.79 |  |  | $ | 2.44 |  |  | $ | 2.52 |
Earnings per diluted share | $ | 0.90 |  |  | $ | 0.79 |  |  | $ | 2.42 |  |  | $ | 2.52 |
Stock options, restricted share units, deferred stock units and performance-based restricted share units that were excluded from the calculation of diluted earnings per share because their effect is anti‑dilutive were 0.4 million for the three months ended September 30, 2023 and 0.4 million for the six months from the Separation ended September 30, 2023.

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